HiWi is a fintech startup which provides banking services across global locations. This cross-border start-up aims to support more than 25,000 students with various services who are studying in India and abroad. It is an easy and simplified remittance solution for students and agents abroad. It offers financial services using a mobile-friendly application of the fintech startup. The platform has a centralized and integrated way of delivering solutions to its user base. The application of HiWi enables the user to transfer funds, management of card expenditures, open new foreign bank accounts, and finance and loan options.
HiWi Offerings
The HiWi fintech startup has partnered with various RBI-licensed teams for an easy transfer of funds and payments to be made. There are collaborations with various local banks at international locations to offer you the service of local banking and be able to use your international debit card as soon as you reach there. The application offers you an easy process of registering online and using the card instantly at the desired location. There are a range of
lending partners for financial services giving you the best deals in cost, processing fee, or easy disbursements.
The payments made by students to the admitted Universities can be made in their currency through this fintech application and the received payment would be in the currency of the country of the desired university. It provides a good version of keeping track of your expenses and putting up reminders for your due payments. All the transaction data and reports are stored and can be accessed from the time you are using it. Settlement and reconciliation claims services are also provided for the convenience of the user as a means of saving time and energy.
HiWi Funding
The company is based in Mumbai, Maharashtra founded by Dewang Neralla known to be the primary founder and the CEO of Atom Technologies. The other founders of the company are Geeta Chauhan and Ujwal Tamminedi who are known to be the expert professionals in the field of information technology. It was established on 23 May 2022. The company has raised a funding amount of 7.25 crores from its investors Unicorn India Ventures and Unmaj Group family with the major share of the investment. Unicorn India Ventures marked the first close at an amount of Rs 225 crore at the third round of funds investment in the last month. Some of its partners are Open Bank, Sequretek, SmartCoin, Pharmarack, Clootrack Genrobotics, and FutureCure. The top competitors of this cross-border startup are InstaReM, Wise, and GrayQuest.
HiWi Future Plans
This fintech cross-border startup aims to utilize these funds to carve out better marketing strategies and advance its services in product development. The organization claims for a remittance amount of $100 million by March 2025 assisting students and increasing 5000 more educational consultants to be a part of this fintech platform.
Providing cross-border services has always been the highlighted area when it comes to foreign education or foreign admissions. It is the platform that has combined technology with addressing the basic needs of a student and parents at cross borders.
